RISMedia's Real Estate Magazine

FEB 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1073841

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Page 37 of 110

RISMedia's REAL ESTATE February 2019 33 The Legalities of Forming a Business Entity Forming a team can have myriad advantages for all agents involved; however, it is a complex process that involves a lot of legal consideration. Sara Guldi, REALTOR® and owner of The Guldi Group at Keller Williams Realty in Maryland and coach at Workman Success Systems, man - ages a team of eight, including her administrative and support staff. "When we formed the team, there were no real state guidelines, so we followed what we had learned from our broker, made sure we were in compliance with general real estate state laws and called the legal ho - tline for input whenever needed," says Guldi. "When our state did is - sue guidelines, we had to make mostly small adjustments." Before forming a team, agents must consider how they'll register it as an official business entity, as it will not be legally valid until this is done. "When we formed the team, there were no real state guidelines, so we followed what we had learned from our broker." SARA GULDI REALTOR ® AND OWNER, GULDI GROUP KELLER WILLIAMS REALTY W hile the growth of agent teams has been prolific in the last decade, and the effectiveness of the team model has been proven many times over, the art of forming, operating and succeeding with an agent team is complex, and requires dedication and a commitment to changing with the times. As teams have evolved, so have the dynamics of creating and running a winning agent team. Ten years ago, RISMedia published "Power Teams: The Complete Guide to Building and Managing a Winning Real Estate Agent Team." Although teams are still defined in much the same way—two or more agents working together for a common purpose—what has changed is the staggering amount of business today's Power Teams are closing, the rising sophistication of their professional and operational skills, and their adaptation of the latest technology and marketing resources. That's why RISMedia has also evolved its coverage and offering for agent teams, whether you're just exploring the team concept or whether you're ready to take your team to the next level. In RISMedia's Ultimate Real Estate Team Guide, by RISMedia Associate Content Editor Liz Dominguez, we inter view many of the nation's most successful real estate teams to uncover their best practices for winning with the team model in today's real estate environment. RISMedia's Ultimate Real Estate Team Guide is just one facet of our ongoing coverage for and about Power Teams in 2019. You can find more in our weekly Team Tuesday enewsletter, filled with team profiles, trends and busi- ness development strategies designed specifically for team success. The team structure brings with it many high-level challenges, all of which can be tackled head-on with the proper tools and by taking the necessary steps to protect and educate yourself and your team. RISMedia's Ultimate Real Estate Team Guide helps you address these challenges through our research and the expert insights of top-performing teams across the country. Remember, in the world of real estate teams, there is no one-size-fits-all solution; however, the path ahead will be easier and more successful for those who educate themselves. Following are excerpts from the first volume of the Ultimate Real Estate Team Guide, available now at rismedia.com. —Maria Patterson

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